A NEW SUNRISE FOR SPAIN?

COUNTRY REPORT
Although the hardships are far from over, the Spanish economy and banking system may finally be on the mend, with three components interrelating in a virtuous cycle: rebounding exports, rising consumer confidence, and a commitment to reform geared toward economic adjustments.

 
 
Source
Central bank

Bank of Spain

International Reserves

USD 53.1 billion (2016)

International Monetary Fund (IMF), data retrieved January 2017

Gross Domestic Product - GDP

USD 1,303.0 billion (2017, estimate)

GDP (Purchasing Power Parity)

Intl$ 1,763.4 billion (2017, estimate)

Real GDP growth
2006 2007 2008 2009 2010 2011 2012
4.2% 3.8% 1.1% -3.6% 0% -1% -2.6%
2013 2014 2015 2016* 2017*    
-1.7% 1.4% 3.2% 3.1% 2.2%    

*Estimate

GDP per capita - current prices

USD 28,147.8 (2017, estimate)

GDP per capita - PPP

Intl$ 38,095.6 (2017, estimate)

GDP (PPP) - share of world total
1980 1990 2000 2010 2017*
2.28% 2.22% 1.98% 1.66% 1.4%

*Estimate

 
 
Source
GDP - composition by sector
  • agriculture: 2.5% 
  • industry: 22.4% 
  • services: 75.1%

(2016 estimate)

Gross domestic expenditure on R&D; (% of GDP)

1.2% (2014)

OECD, data retrieved January 2017

Inflation
2013 2014 2015 2016* 2017*
1.4% -0.1% -0.5% -0.3% 1.0%

*Estimate

Unemployment rate
2013 2014 2015 2016* 2017*
26.10% 24.4% 22.1% 19.4% 18.0%

*Estimate

Household saving rates

2.3% (Total, 2015)

 

Public debt (General government gross debt as a % of GDP)
2013 2014 2015 2016* 2017*
93.7% 99.3% 99.3% 100.1% 100.2%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2013 2014 2015 2016* 2017*
-6.9% -5.9% -5.1% -4.5% -3.1%

*Estimate

Government bond ratings

Standard & Poor's: BBB+

Moody's: Baa2

Standard & Poor's / Moody's (Updated January 2017)

Market value of publicly traded shares
2013 2014 2015
USD 1116.6 billion USD 992.9 billion USD 787.2 billion
Largest companies in Spain

Banco Santander, Telefónica, BBVA-Banco Bilbao Vizcaya, Iberdrola, Gas Natural Fenosa, Inditex, CaixaBank, Grupo ACS, Mapfre, Banco de Sabadell, Repsol, Ferrovial, Bankia, Aena, Amadeus IT Holdings, Abertis, Bankinter, Banco Popular Espanol, Grifols, Red Eléctrica, Acciona, DIA, Liberbank, FCC, Enagas, Bolsas & Mercados.

 
 
Source
Current account balance

USD 22.5 billion (2017 estimate)

Current account balance by percentage of GDP

1.7% (2017 estimate)

Exports as percent of GDP(Exports of goods and services)

33.1% (2015)

Shares in world total merchandising export

1.7% (2015)

Shares in world total commercial services export

2.5% (2015)

Total exports

USD 266.3 billion (2016 estimate)

Export commodities

Machinery, motor vehicles; foodstuffs, pharmaceuticals, medicines, other consumer goods

Total imports

USD 287.9 billion (2016 estimate)

 
 
Source
Import commodities

Machinery and equipment, fuels, chemicals, semi-finished goods, foodstuffs, consumer goods, measuring and medical control instruments

Exports - major partners

France 15.7%, Germany 11%, Italy 7.4%, UK 7.4%, Portugal 7.1%, US 4.5% (2015)

Imports - major partners

Germany 14.4%, France 11.7%, China 7.1%, Italy 6.5%, Netherlands 5%, UK 4.9% (2015)

FDI inflows
2013 2014 2015
USD 32,935 million USD 22,891 million USD 9,243 million
FDI outflows
2013 2014 2015
USD 13,814 million USD 35,304 million USD 34,586 million
Value of cross-border M&A;, by country of purchaser
2012 2013 2014 2015
USD -1621.2 million USD -7377.5 million USD 4766.4 million USD 16715.3 million
Cross-border M&A; deals worth over $3 billion completed in 2014 (Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

Vodafone Holdings Europe SLU, Grupo Corporativo ONO SA, Spain, USD 10.0 billion / Banco Santander SA, Banco Santander(Brasil)SA, Brazil, USD 3.3 billion

(for a monthly update on M&A; click here )

Cross-border M&A; deals worth over $3 billion completed in 2015 (Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

Repsol SA, Talisman Energy Inc, Canada, USD 8.3 billion

(for a monthly update on M&A; click here )

Best countries for doing business World Bank/IFC Doing Business Project

Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.

Overall ranking: 32 out of 190 countries (2017)

Subcategories:

Starting a business: 85 out of 190 countries

Enforcing Contracts: 29 out of 190 countries

Registering Property: 50 out of 190 countries

Getting Credit: 62 out of 190 countries

Protecting Minority Investors: 32 out of 190 countries

Trading Across Borders: 1 out of 190 countries

Paying Taxes: 37 out of 190 countries

Dealing with Construction Permits: 113 out of 190 countries

Getting Electricity: 78 out of 190 countries

Resolving Insolvency: 18 out of 190 countries

Global competitiveness ranking(ranking by country on a basis of 144, the first is the best)

32 out of 138 countries

(2016-2017)

Index of Economic FreedomWSJ and Heritage Foundation

Ranking: 43 / Score: 68.48 (Moderately free) (2016)

(100=totally free 0=totally repressed )

 
 
Source
Time zone

UTC+1

Total area

505,370 sq km (2014)

Capital

Madrid (2014)

Currency

euros (EUR) (2014)

Government type

parliamentary monarchy (2014)

Languages

Castilian Spanish (official) 74%, Catalan 17%, Galician 7%, and Basque 2% 

Religions

Roman Catholic 94%, other 6%

Total population
1990 2000 2010 2014* 2019**

38.837 million

40.264 million 46.562 million 46.507 million 45.941 million

*Estimate  **Forecast 

*Estimate   

 
 
Source
Urban population as % of total population
1960 1980 2000 2013
56.6% 73% 76% 79%
Population median age

41.6 years (2014 est.)

Population growth rate

0.81% (2014 estimate)

Life expectancy

81.47 years (2014 estimate)

Adult literacy

97.7% (2010 estimate)

% of population living on less than $2 a day

2.7 (2010)

Inequality of wealth distribution (Gini index)

35.8 (2010)

(0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights: 1
Civil Liberties: 1 (2014)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

Fixed 40.7%   Mobile 106.9%
(2013)
(fixed-telephone subscribers and mobile-cellular subscribers)

 

Internet users as % of total population

71.57% (2013)
 

Cost of living - Mercer index(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

Madrid 63rd (2014)
 

CO2 emissions(Metric tons of CO2 per capita)

5.8 (2010)
 

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